Hello everyone!

I bought my first rental property recently; it's a condo in Annapolis, MD. I'm getting ready for tax season and I've started looking into things like depreciation. When I look at the county assessors website, the land is listed to be worth almost exactly as much as the improvements.

This is pretty confusing to me, as it is a second floor unit, and I don't think I actually own any of the land. Does this mean that I can only depreciate 50% of the purchase value?  If so, that seems pretty crummy.  Is this assessment open to debate with the county assessors office?

Thanks!